10 Indian Startups Making News This Week (01 July -08 July 2018)

10/07/2018

Consumer Internet Industry

1) Phygicart founded by Dr Jolly Antony and Anish K Joy: UAE-based e-commerce and direct marketing company, Phygicart secured $14.5 million from Boby Chemmanur, Chairman and Managing Director of Boby Chemmanur International group. The company aims to offer an opportunity to small and medium enterprises (SMEs) who come up with innovative products.

2) ThinOptics founded by Darren Lancaster, David Chute, and Teddy Shalon: California-based Eyewear startup ThinOptics raised $0.5 million led by LensKart. The startup has a patented design that allows reading glasses to stay on your nose and you can twist them to get the best fit. With the investment, LensKart aims to work closely with ThinOptics’ California team for growing the India market as well as bringing more innovations in this area.

E-commerce Industry

3) Scale Labs founded by Kiran Kumar and Pramod Panchagnula: Gurugram-based cross-border e-commerce enabler for brands and online retailers, Scale Labs secured $1 million in seed funding from the GPA Group. The company will use these funds for development of its technology product and for gaining an Indian company that has built its fulfillment capabilities in India, Dubai, and Hong Kong. Scale Labs foresees enabling brands by providing them with cutting-edge business services and technology products to address global audiences.

Technology Industry

4) Leena AI founded by Adit Jain: Gurugram-based HR Tech startup, Leena AI secured an undisclosed amount of funding from a US-based investor Y-Combinator. With fresh funding, the startup will be able to improve its pitch and make introductions to companies that can make use of this tool. The startup is looking to double down on its market leadership in India and APAC. It also aims to make way into the US market.

5) Anchanto founded by Abhimanyu Kashikar, Shafique Muhammad and Vaibhav Dabhade: Singapore- and India-based SaaS tech company Anchanto raised $4 million in the first round of the Series C investment from MDI Ventures. The company will be using funds to expand its market outreach and to build stronger regional Southeast Asia presence. As a SaaS platform, Anchanto allows e-commerce sellers, brands, retailers, warehousing and fulfillment service providers to reach over 70 e-commerce sales channels.

Fintech Industry

6) LoanTap founded by Vikas Kumar: Bengaluru-based digital lending company LoanTap raised $6.25 million in an equity funding round from Beijing-based venture capital firm Shunwei Capital. LoanTap is a digital lending platform delivering flexible EMI-free loan products to salaried professionals. The startup plans to leverage this funding by four to five times to source around $29.1 million from lending institutions, which it will then provide to more consumers.

Food Industry

7) Biryani by Kilo founded by Kaushik Roy, Ritesh Sinha, and Vishal Jindal: Gurugram-based Biryani by Kilo secured $1 million in a pre-series A round of funding from a group of investors led by Ajay Relan. With the funding, the startup plans to accomplish a sales run rate of more than $5.8 million by March 2019. The startup wants to open up more than 20 stores in metros and big cities by March 2019.

8) HungerBox founded by Sandipan Mitra: Foodtech company HungerBox secured $4.5 million in Series A funding round led by South Korea-based investment firm Neoplux, and India-focussed PE fund, Sabre Partners. The Bengaluru-based Growth Story-promoted startup plans to use the funds for its growth in India as well as fuel the company’s expansion into the South East Asian market.

Digital Industry

9) Hubhopper founded by Gautam Raj Anand: Delhi-based podcast and content-aggregator, Hubhopper raised an undisclosed amount of funding led by Mumbai-based venture capital firm Unit-E ventures. With the funding, the platform plans to expand its team, work on its recommendation plans, redemption, and marketing plans.

Automobile Industry

10) GoBumpr founded by Karthik Venkateswaran, Nandha Kumar Ravi and Sundar Natesan: Chennai-based automobile aftermarket platform, GoBumpr secured $600k in Pre-Series A funding led by the existing investors – The Chennai Angels (TCA), Keiretsu Forum and individual investors. GoBumpr is keen to digitize the after-market space and goals to be India’s most trusted auto commerce solution for consumers.

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